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Televisa, CIE to Launch Joint Venture

Updated Oct. 21, 2002 12:01 a.m. ET

Top Mexican media firm Grupo Televisa and its rival, leading live-entertainment company CIE, said Friday they were forming a joint show-business company to bring the likes of the Rolling Stones and "the Phantom of the Opera" to Mexico. Televisa said it will pay $107.2 million to acquire 40% of a newly formed subsidiary of CIE that holds CIE's Mexican business assets, including production companies, large venues and ticket company Ticketmaster. The joint venture will be called Ocesa Entretenimiento and will use Televisa's broadcasting networks to promote events, while Televisa will have rights to broadcast...